The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-02-02
THE INDIANAPOLIS NATIONAL BANK
Designated United States Depository,
Corner Room Odd-fellows Hall
THro. P. HAUeHEY, Prest II. LATHAM. Cash
CONDITION OF THE MARKETS.
Wheat Opens with a Show of EXCITEMENT.
but Prices Gradually Fall Off.
Limited Speculation in Corn at Practically
Unchanged Prices-Provisons Decline
Early, but Rally and Close Steady.
MONEY, BONDS AND STOCKS.

A Marked Increase of Activity, Accompa-
MED by Sharp fluctuations.
NEW YORK, Feb. Money on call was
,asy at 3 to Al per cent, closing at 30 4.
Prime mercantile paper, 81 064 per cent
Sterling Exchange was firm to strong at 81. So
for sixty-day bills, and 81 SO for demand.
The total sales of stocks to-day we're 426, 073
shares, including the following: Canada
Southern. a, us; Delaware, Lackawanna& West
ern, 81 800; Delaware & Hudson, 1880; Erie.
2s3OO Kansas 6 Texas, 6,07O; Lake Shore, 49,
sos; Louisville & Nashville, 25 $685. Manhattan
Consolidated, $780, Northwestern, 1913; New
Jersey Central 20. 092; New York Central, 6,235;
New England II, $50; Oregon s. Transcontinen-
tai, $3.50; Reading, 72,o4O; Richmond g. West
Point, 14,37O; ST. Paul, 20, 47o; St. Paul & Oma-
ha, 1850; Texas Pacific, 1850; Union Pacific,
1890; Western Union, 1909
Government bonds and State bonds were dull
and steady.
The stock market exhibited much more ami
nation than for several days past, accompanied
by sharp depression, which, however, was in
great measure neutralized late in the day. Be-
fore the open ing Of business, advices were re-
ceived of panic upon the Paris Bourse and of
heavy selling by continental investors in the
London market At the opening, London houses
sold heavily all of their specialties and the
room traders, who were bearish almost to man,
aided in producing the, depression. Reports that
labor troubles were spreading, and that to-day
would seriously affect the trunk lines, were also
used against the market, the coal stocks and
trunk lines showing the effects of the move
ment most heavily Before the end Of the fore
noon, however, the selling pressure was relaxed,
and the more pacific tone of the European ad
vices Immediately created a revulsion in the feel
ing on the street. Later reports were circulated
that conference for q settlement of the labor
difficulties mad been arranged, and the room
traders then ran to cover and material recov-
cry was effected before the close. There ex-
cellent buying by insiders, especalyin the fore
noon, which undoubtedly prevented much more
were the leaders of the market. followed by tho
trunk lines and other specialties, prominent
among which were Louisville 81 Nashville, ST.
Paul and Richmond f. West Point. The open
ing decidedly weak, the declines from yes
terday's closing figures ranging up to per cent,
the latter in Louisville 81 Nashville. The mar
ket was active, feverish, and some what irregular
in the early dealings, and while a few slight ad-
yances were made the pressure of stocks for
sale soon forced the list down. and before the
end of the first hour declines ranging
close to per cent. followed again by a
renewal of the selling movement, and many
stocks which had resisted well the pressure of
the first hour gave way in turn. Before noon,
however, the market became quiet and rather
firm, though the feverishness was still noticea
bile, and material recoverias were made in many
stocks especially Jersey Central, Lackawanna.
and Louisville e. Nashville. The improvement
continued until the end of business, the close be-
ing steady to firm. Sales, 426,073 shares. The
great majority of the active list are lower this
evening, though fair proportion show fractional
advances.
Railroad bonds felt the effects of the depres-
sion in shares, and were feverish and generally
weak In the forenoon. They responded quickly
~ "a y1oko ~, hrx-
and the early losses were generally reganed,
though final changes show fractional declines
for most of the list The speculative Issues
were most affected by the movement. the more
prominent among them being Erie seconds, with
sales Of 1914 ,000;, Nickel-plate trust receipts,
$l14000 and St Louis, Arkansas & Texas
seconds, $4,000. The total days business was
e1,664,000 Closing quotations were: